Stocks in focus on June 28: Real Estate firms, Cox & Kings to Bank of Maharashtra; here are 5 Newsmakers of the Day

Stocks in focus on June 28: Real Estate firms, Cox & Kings to Bank of Maharashtra; here are 5 Newsmakers of the Day

The Sensex and Nifty, both, ended almost flat amid positive cues from Asian Markets on Thursday, June 27, 2019. Sensex at Bombay Stock Exchange fell six points to settle at 39,586 while Nifty at National Stock Exchange also slipped six points to 11,842. But, there were certain stocks that came in news after the market was closed for trading purposes and can impact the market after they reopen on Friday, June 28, 2019. Here is a list of five such stocks:

Sobha/Prestige Estates/Brigade Enterprise/Purvankara: The stocks of these real estate companies will be in focus today because the Karnataka government on Thursday said that it was contemplating a ban on construction of new apartments in Bengaluru as one of its measures to combat the growing shortage of water in India’s technology capital. Deputy CM of Karnataka G. Parameshwara said there’s a gap between the construction of new residential apartments and the amenities provided to these spaces. He added, even the quality of water provided to these apartments is poor.

Cox & Kings: The travel and tour company said on Thursday that it has defaulted on the payment of Rs150 crore commercial papers due to cash flow mismatch. It also said that it would meet its financial obligations “through a combination of internal accruals and monetisation of assets”.

Lupin Limited: The drug maker has received tentative approval from the US health regulator, USFDA, for the generic version of Mirabegron Extended Release (ER) tablets of strengths 25 mg and 50 mg. The drug is used to treat Overactive Bladder (GAB) for people having symptoms such as urge urinary incontinence, urgency, and urinary frequency.

Excel Industries: Board of the company on Thursday approved the acquisition of a chemical manufacturing unit of NetMatrix Crop Care Limited located in Visakhapatnam, Andhra Pradesh as a going concern by way of slump sale. The cost of acquisition is Rs95 crores (subject to working capital adjustments on Closing Date).

Bank of Maharashtra: The state-owned Bank of Maharashtra said that it will raise up to Rs3,000 crore equity capital through various modes, including follow-on public offer or preferential issuance of shares. The decision was taken at the bank’s annual general meeting held on June 27, 2019.